Having a baby is a life-changing event in human life. People
generally plan and arrange for receiving the coming baby. They work for his/her
bedding to dresses and for her probable healthcare measures. Nevertheless, in
the changing world, a person can think in advance and can do some more things
when he or she expects a baby to come in the family. The coming baby is the new
dependent in the family. This means that his or her expenditure must be covered
by the earning of family. Therefore, why should not one think of ?
With the baby coming in the family, requirement of life insurance for a person
changes to some extent. He or she should re-estimate his or her life insurance
demands and take necessary action.
A new baby coming means many new things in life and family of a person. The
husband and wife should learn and keep a few more things in their mind. They
should consider how the baby would be ensured.
Either of the spouses is the beneficiary in the insurance policy and the
insurance policy must include this. If one is divorced, he/she should accept
his/her ex-spouse as the beneficiary. The minor children, children nor over 18,
cannot be beneficiaries. The financial responsibility of the coming baby is to
be shared by either of the spouses. This includes expenses necessary for taking
care of the child, education of the child when he or she would grow. This
process would run till the child completes 18 years of age.
It is important to add the baby in the health plan of either of the spouses.
The parents of the baby should act this way just after the baby is born.
Usually, this is done by the hospital where the baby is born. It is the task of
the parents to keep watch on the hospital if it is arranging it or not. When it
is done, it should be communicated to the health insurance company as early as
The parents get thirty days only after the birth of the baby to include his or
her name to the group insurance plan. If it is not done, the parents are to
wait for annual open-enrollment time. The parents must find and understand what
amount of coverage they will find fit.
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